By Koustav Das: Benchmark stock market indices opened with little change on Thursday as the market turned its attention to a special trading session to determine the price for Reliance Industries’ financial services business, Jio Financial Services.
The session comes ahead of the earnings reports from top Nifty 50 companies.
As of 9:15 am, the Nifty 50 index fell by 0.01 per cent to 19,831.50, while the S&P BSE Sensex lost 0.03 per cent to 67,074.40. Broader market indices also lost momentum in early trade.
Most of the major sectoral indices were either trading flat or in negative territory in early trade as the market focused on the special trading session to determine Jio Financial’s price.
The top five gainers on the Nifty 50 were Dr Reddy’s, SBI, IndusInd Bank, Sun Pharma and NTPC. On the other hand, the biggest losers in early trade were Infosys, UltraTech Cement, Hero MotoCorp, Eicher Motors and M&M.
Besides the demerger of Jio Financial Services, investors will also focus on the first-quarter results of companies today. At least 15 companies are expected to report Q1FY24 results today, including India’s second-largest IT company, Infosys.